The largest revenue source in the U.S. federal tax system is the corporate income tax
a. True
b. False
Indicate whether the statement is true or false
False
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A surplus of cardboard boxes means that
A) at the current price of a cardboard box, the quantity demanded exceeds the quantity supplied. B) at the current price of a cardboard box, the quantity demanded is less than the quantity supplied. C) the current price of a cardboard box is less than the equilibrium price. D) at the current price of a cardboard box, the quantity demanded equals the quantity supplied and the price will fall to restore the equilibrium. E) More information is needed to determine if the price of cardboard boxes is higher than, lower than, or equal to the equilibrium price.
Due to a recession in the US, the average rate of return on investments is likely to fall causing the demand for US dollar to
a. Increase b. Decrease c. Not change d. None of the above
Suppose that a firm's long-run average total costs of producing small commuter jet airplanes increases as it produces between 2,000 and 4,000 airplanes. For this range of output, the firm is experiencing
a. economies of scale. b. constant returns to scale. c. diseconomies of scale. d. specialization.
By definition, there is discrimination when the marketplace offers different opportunities to similar individuals who differ only by
a. race, ethnic group, sex, age, or other personal characteristics. b. qualifications, experience, or job preferences. c. levels of human capital. d. All of the above are correct.